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Find what is the inventory conversion period

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Problem 1: Thornton Universal Sales' cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 50% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?

Option a. 11.7 days

Option b. 14.4 days

Option c. 13.0 days

Option d. 16.7 days

Option e. 15.2 days

Reference no: EM132614259

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